Daily Pivots: (S1) 0.9884; (P) 0.9924; (R1) 0.9996; More…

USD/CHF is staying in range of 0.9840/9989 and intraday bias remains neutral. Outlook is unchanged that we’d still expect strong support from 0.9848 to contain downside to complete the correction from 1.0128. On the upside, break of 0.9989 resistance will argue that such correction is completed. Intraday bias will be turned back to the upside for retesting 1.0128 high. However, decisive break of 0.9848 support will bring deeper decline to 0.9541 key support instead.

In the bigger picture, current development suggests that the medium term rally from 0.9186 hasn’t completed yet. Break of 1.0128 will target 1.0342 key resistance next (2016 high). On the downside, firm break of 0.9848 support will dampen this bullish view and turn focus back to 0.9541 key support instead.

Daily Pivots: (S1) 0.9818; (P) 0.9855; (R1) 0.9909; More…

USD/CHF rebounded strongly just ahead of 0.9848 key support again. But upside is limited below 0.9989 resistance. Intraday bias remains neutral first. At this point, we’d still expect strong support from 0.9848 to contain downside to complete the correction from 1.0128. On the upside, break of 0.9989 resistance will argue that such correction is completed. Intraday bias will be turned back to the upside for retesting 1.0128 high. However, decisive break of 0.9848 support will bring deeper decline to 0.9541 key support instead.

In the bigger picture, current development suggests that the medium term rally from 0.9186 hasn’t completed yet. Break of 1.0128 will target 1.0342 key resistance next (2016 high). On the downside, firm break of 0.9848 support will dampen this bullish view and turn focus back to 0.9541 key support instead.

Daily Pivots: (S1) 0.9818; (P) 0.9855; (R1) 0.9909; More…

At this point, we’d still expect strong support from 0.9848 to contain downside to complete the correction from 1.0128. On the upside, break of 0.9989 resistance will argue that such correction is completed. Intraday bias will be turned back to the upside for retesting 1.0128 high. However, decisive break of 0.9848 support will bring deeper decline to 0.9541 key support instead.

In the bigger picture, current development suggests that the medium term rally from 0.9186 hasn’t completed yet. Break of 1.0128 will target 1.0342 key resistance next (2016 high). On the downside, firm break of 0.9848 support will dampen this bullish view and turn focus back to 0.9541 key support instead.

USD/CHF dropped to as low as 0.9840 last week but drew support from 0.9848 support and rebound. The development affirmed the case that price action from 1.0128 are merely a correction, and larger rise from 0.9541 is in progress. Intraday bias is neutral for now. On the upside, break of 0.9989 resistance will argue that such correction is completed. Intraday bias will be turned back to the upside for retesting 1.0128 high. In case of another dip, downside should be contained by 0.9848 to bring rebound.

In the bigger picture, current development suggests that the medium term rally from 0.9186 hasn’t completed yet. Break of 1.0128 will target 1.0342 key resistance next (2016 high). On the downside, firm break of 0.9848 support will dampen this bullish view and turn focus back to 0.9541 key support instead.

In the long term picture, price actions from 0.7065 (2011 low) are not clearly impulsive yet. Thus, we’ll treat it as developing into a corrective pattern, at least, until a firm break of 1.0342 resistance.

Daily Pivots: (S1) 0.9828; (P) 0.9892; (R1) 0.9944; More…

Intraday bias in USD/CHF is turned neutral with today’s recovery. Outlook is unchanged that we’d still expect strong support from 0.9848 to complete the corrective fall from 1.0128 to bring rebound. On the upside, break of 0.9989 will turn bias back to the upside for retesting 1.0128 high. However, sustained break of 0.9848 will bring deeper fall to 61.8% retracement of 0.9541 to 1.0128 at 0.9765

In the bigger picture, current development suggests that the medium term rally from 0.9186 hasn’t completed yet. Break of 1.0128 will target 1.0342 key resistance next (2016 high). On the downside, firm break of 0.9848 support will dampen this bullish view and turn focus back to 0.9541 key support instead.

Daily Pivots: (S1) 0.9828; (P) 0.9892; (R1) 0.9944; More…

USD/CHF breached 0.9848 support but recovered quickly. At this point, we’d still expect strong support from 0.9848 to complete the corrective fall from 1.0128 to bring rebound. On the upside, break of 0.9989 will turn bias back to the upside for retesting 1.0128 high. However, sustained break of 0.9848 will bring deeper fall to 61.8% retracement of 0.9541 to 1.0128 at 0.9765.

In the bigger picture, current development suggests that the medium term rally from 0.9186 hasn’t completed yet. Break of 1.0128 will target 1.0342 key resistance next (2016 high). On the downside, firm break of 0.9848 support will dampen this bullish view and turn focus back to 0.9541 key support instead.

Daily Pivots: (S1) 0.9916; (P) 0.9936; (R1) 0.9966; More…

USD/CHF drops sharply today as low as 0.9864 but recovered ahead of 0.9862 low. Outlook is unchanged at price actions from 1.0128 are forming a corrective pattern. Downside should be contained by 0.9848 support to bring rebound. On the upside, above 0.9989 will turn bias back to the upside for retesting 1.0128 high.

In the bigger picture, current development suggests that the medium term rally from 0.9186 hasn’t completed yet. Break of 1.0128 will target 1.0342 key resistance next (2016 high). On the downside, break of 0.9848 support will dampen this bullish view and turn focus back to 0.9541 key support instead.

Daily Pivots: (S1) 0.9916; (P) 0.9936; (R1) 0.9966; More…

Intraday bias in USD/CHF is turned neutral with the current recovery. Outlook is unchanged that the correction from 1.0128 might still extend. But in case of another fall downside should be contained by 0.9848 support to bring near term reversal. On the upside, above 0.9989 will turn bias back to the upside. Break of 1.0008 will target a test on 1.0128 high.

In the bigger picture, current development suggests that the medium term rally from 0.9186 hasn’t completed yet. Break of 1.0128 will target 1.0342 key resistance next (2016 high). On the downside, break of 0.9848 support will dampen this bullish view and turn focus back to 0.9541 key support instead.

Daily Pivots: (S1) 0.9903; (P) 0.9925; (R1) 0.9951; More…

Intraday bias in USD/CHF remains mildly on the downside at this point. Correction from 1.0128 is possibly extending. But downside should be contained by 0.9848 support to bring near term reversal. On the upside, above 0.9989 will turn bias back to the upside. Break of 1.0008 will target a test on 1.0128 high.

In the bigger picture, current development suggests that the medium term rally from 0.9186 hasn’t completed yet. Break of 1.0128 will target 1.0342 key resistance next (2016 high). On the downside, break of 0.9848 support will dampen this bullish view and turn focus back to 0.9541 key support instead.

Daily Pivots: (S1) 0.9903; (P) 0.9925; (R1) 0.9951; More…

Intraday bias in USD/CHF remains mildly on the downside at this point. Correction from 1.0128 is possibly extending. But downside should be contained by 0.9848 support to bring near term reversal. On the upside, above 0.9989 will turn bias back to the upside. Break of 1.0008 will target a test on 1.0128 high.

In the bigger picture, current development suggests that the medium term rally from 0.9186 hasn’t completed yet. Break of 1.0128 will target 1.0342 key resistance next (2016 high). On the downside, break of 0.9848 support will dampen this bullish view and turn focus back to 0.9541 key support instead.

Daily Pivots: (S1) 0.9903; (P) 0.9945; (R1) 0.9973; More…

USD/CHF’s breach of 0.9911 minor support suggests completion of rebound from 0.9862 at 0.9989. Intraday bias in mildly on the downside for 0.9862 support. At this point, we’d continue to expect strong support from 0.9848 support to bring near term reversal. On the upside, above 0.9989 will turn bias back to the upside. Break of 1.0008 will target a test on 1.0128 high.

In the bigger picture, current development suggests that the medium term rally from 0.9186 hasn’t completed yet. Break of 1.0128 will target 1.0342 key resistance next (2016 high). On the downside, break of 0.9848 support will dampen this bullish view and turn focus back to 0.9541 key support instead.

Daily Pivots: (S1) 0.9903; (P) 0.9945; (R1) 0.9973; More…

Intraday bias in USD/CHF remains neutral with focus on 0.9911 minor support. Break there will confirm completion of the rebound from 0.9862. Deeper decline would be seen back to 0.9862. For now, price actions from 1.0128 are viewed as a corrective move. We’d expect strong support from 0.9848 support to bring reversal. On the upside, above 0.9989 will turn bias back to the upside. Break of 1.0008 will target a test on 1.0128 high.

In the bigger picture, current development suggests that the medium term rally from 0.9186 hasn’t completed yet. Break of 1.0128 will target 1.0342 key resistance next (2016 high). On the downside, break of 0.9848 support will dampen this bullish view and turn focus back to 0.9541 key support instead.

Daily Pivots: (S1) 0.9942; (P) 0.9967; (R1) 1.0005; More…

USD/CHF’s pull back from 0.9989 accelerates lower today. Focus is back on 0.9911 minor support. Break there will confirm completion of the rebound from 0.9862. Deeper decline would be seen back to 0.9862. For now, price actions from 1.0128 are viewed as a corrective move. We’d expect strong support from 0.9848 support to bring reversal. On the upside, above 0.9989 will turn bias back to the upside. Break of 1.0008 will target a test on 1.0128 high.

In the bigger picture, current development suggests that the medium term rally from 0.9186 hasn’t completed yet. Break of 1.0128 will target 1.0342 key resistance next (2016 high). On the downside, break of 0.9848 support will dampen this bullish view and turn focus back to 0.9541 key support instead.

Daily Pivots: (S1) 0.9942; (P) 0.9967; (R1) 1.0005; More…

Intraday bias remains mildly on the upside for 1.0008 resistance fist. Break there will confirm that corrective pull back fro 1.0128 has completed at 0.9862 already. Further rally should then be seen to retest 1.0128 high next. On the downside, though, below 0.9911 minor support will turn focus back to 0.9848 support instead.

In the bigger picture, current development suggests that the medium term rally from 0.9186 hasn’t completed yet. Break of 1.0128 will target 1.0342 key resistance next (2016 high). On the downside, break of 0.9848 support will dampen this bullish view and turn focus back to 0.9541 key support instead.

USD/CHF’s rebound from 0.9862 extended higher last week. The development argues that corrective pull back from 1.0128 has completed with three waves down to 0.9862, ahead of 0.9484 support, on bullish convergence condition in 4 hour MACD. Initial bias is now on the upside this week for 1.0008 resistance first. Break will confirm this bullish case and target a test on 1.0128 high. On the downside, though, below 0.9911 minor support will turn focus back to 0.9848 support instead.

In the bigger picture, current development suggests that the medium term rally from 0.9186 hasn’t completed yet. Break of 1.0128 will target 1.0342 key resistance next (2016 high). On the downside, break of 0.9848 support will dampen this bullish view and turn focus back to 0.9541 key support instead.

In the long term picture, price actions from 0.7065 (2011 low) are not clearly impulsive yet. Thus, we’ll treat it as developing into a corrective pattern, at least, until a firm break of 1.0342 resistance.

Daily Pivots: (S1) 0.9915; (P) 0.9935; (R1) 0.9958; More…

USD/CHF’s rebound from 0.9862 extends today. Break of near term falling trendline resistance put focus on 1.0008 resistance now. Break will indicate that pull back from 1.0128 has completed. Intraday bias would be turned back to the upside for retesting 1.0128 first. On the downside, in case of another fall, strong support should be seen from 0.9848 key support to bring rebound.

In the bigger picture, rise from 0.9541 could have topped at 1.0128. But as long as 0.9541 support holds, we’d still expect rise from 0.9186 to resume at a later stage. Break of 1.0128 will target 1.0342 key resistance. However, break of 0.9514 will pave the way back to 0.9186 low.

Daily Pivots: (S1) 0.9915; (P) 0.9935; (R1) 0.9958; More…

Intraday bias in USD/CHF remains neutral at this point. On the upside, break of 1.0008 resistance will indicate that pull back from 1.0128 has completed. Intraday bias would be turned back to the upside for retesting 1.0128 first. On the downside, below 0.9862 will target 0.9848 support first. Sustained break there will confirm near term reversal and target 61.8% retracement of 0.9541 to 1.0128 at 0.9765 and below.

In the bigger picture, rise from 0.9541 could have topped at 1.0128. But as long as 0.9541 support holds, we’d still expect rise from 0.9186 to resume at a later stage. Break of 1.0128 will target 1.0342 key resistance. However, break of 0.9514 will pave the way back to 0.9186 low.

Daily Pivots: (S1) 0.9882; (P) 0.9911; (R1) 0.9959; More…

No change in USD/CHF’s outlook and intraday bias remains neutral first. On the upside, break of 1.0008 resistance will indicate that pull back from 1.0128 has completed. Intraday bias would be turned back to the upside for retesting 1.0128 first. On the downside, below 0.9862 will target 0.9848 support first. Sustained break there will confirm near term reversal and target 61.8% retracement of 0.9541 to 1.0128 at 0.9765 and below.

In the bigger picture, rise from 0.9541 could have topped at 1.0128. But as long as 0.9541 support holds, we’d still expect rise from 0.9186 to resume at a later stage. Break of 1.0128 will target 1.0342 key resistance. However, break of 0.9514 will pave the way back to 0.9186 low.

Daily Pivots: (S1) 0.9882; (P) 0.9911; (R1) 0.9959; More…

Intraday bias in USD/CHF remains neutral for the moment. On the upside, break of 1.0008 resistance will indicate that pull back from 1.0128 has completed. Intraday bias would be turned back to the upside for retesting 1.0128 first. On the downside, below 0.9862 will target 0.9848 support first. Sustained break there will confirm near term reversal and target 61.8% retracement of 0.9541 to 1.0128 at 0.9765 and below.

In the bigger picture, rise from 0.9541 could have topped at 1.0128. But as long as 0.9541 support holds, we’d still expect rise from 0.9186 to resume at a later stage. Break of 1.0128 will target 1.0342 key resistance. However, break of 0.9514 will pave the way back to 0.9186 low.

Daily Pivots: (S1) 0.9882; (P) 0.9911; (R1) 0.9959; More…

At this point, intraday bias in USD/CHF remains neutral first. On the upside, break of 1.0008 resistance will indicate that pull back from 1.0128 has completed. Intraday bias would be turned back to the upside for retesting 1.0128 first. On the downside, below 0.9862 will target 0.9848 support first. Sustained break there will confirm near term reversal and target 61.8% retracement of 0.9541 to 1.0128 at 0.9765 and below.

In the bigger picture, rise from 0.9541 could have topped at 1.0128. But as long as 0.9541 support holds, we’d still expect rise from 0.9186 to resume at a later stage. Break of 1.0128 will target 1.0342 key resistance. However, break of 0.9514 will pave the way back to 0.9186 low.